Highlights of this month’s Crypto Fundraise so far

In the first half of October, many crypto-related companies have secured multi-million fundraisings. Some examples include Horizon Blockchain Games, Step, Uniswap Labs, Copper Technologies and the investment startup pad.

Since the beginning of the year, digital asset firms have raised over $30 billion. Andreessen Horowitz and Sequoia Capital played a key role, both completing $9 billion in fundraising.

The beginning of October

At the beginning of the month, the blockchain Juno started raised $18 million to provide additional cryptocurrency services to users and establish its first tokenized loyalty program.

A few days later, video game studio and blockchain infrastructure company – Horizon Blockchain Games – revealed a funding round of USD 40 million in Series A. The initiative was led by many giants in the fintech sector, such as Brevan Howard Digital, Morgan Creek Digital, Polygon, Xchange, Translink, and more.

Horizon Blockchain Games raised hopes that the fresh capital will help its efforts in the Web3 sector by offering various products and applications to customers.

Next on the list is Scale3 Labs – a startup that supports blockchain node operators. The entity, led by the former Coinbase employees – Ola Muse and Karthik Kalyanaraman – grew up $5.3 million to build developer tools for the Web3 universe.

NASDAQ-listed crypto miner – TeraWulf – also jumped on the bandwagon announcement a $17 million fundraise to increase operating capacity above 1.6 EH/s.

The banking platform Step secured a substantial $300 million in debt financing. The funds will help the company’s goal of launching a cryptocurrency platform.

The last days

October 12, web3 platform – Nxyz – finished a $40 million round of funding led by Paradigm, Coinbase Ventures, Sequoia Capital and other prominent players. It promised to use the funds to hire more professionals for its divisions.

That same day, Twitch’s co-founder – Justin Kan – raised 14 million dollars. The investment was led by Andreessen Horowitz (a16z), and the goal is to transform Kan’s platform Rye into the “Shopify of Web3.”

UK-based crypto watchdog – Copper Technologies – also joined the club announcement a Series C funding round of $196 million. New and existing shareholders accounted for $181 million of the total capital, while $15 million came as a convertible loan note.

On October 13, Uniswap Labs – the team behind the popular decentralized exchange – introduced a $165 million fundraiser to guide NFT efforts. Andreessen Horowitz (a16z), SV Angel, Paradigm and Variant were some of the firms that led the investment.

A day later, the Singapore-based cryptocurrency investment – Pillow – launched secured $18.1 million in a Series A funding round. Its co-founder Arindam Roy outlined that the entity has already spread its presence among 60 nations, while the multimillion capital may allow it to target more countries.

Some of the biggest fundraisers in 2022

The US venture capital firms – Andreessen Horowitz (a16z) and Sequoia Capital – are the two organizations that have announced the largest funding rounds so far this year.

In January, the former became raised a whopping $9 billion to double its involvement in the cryptocurrency sector, while in May secured an additional fundraising of $4.5 billion. Arianna Simpson – General Partner at a16z – said that the bear market is the perfect period for such massive investments.

This summer, the Chinese subsidiary of Sequoia Capital matched Andreessen Horowitz’s efforts raise 9 billion dollars for four new funds. The capital will support fintech and cryptocurrency startups in the world’s most populous country.